Reserve Bank of India disclosed that about 99% of the banned Rs 500 and Rs 1,000 notes have returned into the system. Following Prime Minister Narendra Modi’s massive demonetisation drive to counter black money last year, a total of Rs 15.28 lakh crore of the Rs 15.44 lakh crore in circulation have returned by June30,2017.
About Rs 16000 crore of the demonetised notes did not come back. The report stated that Rs 8,900 crore of Rs 1000 notes have not yet come back into the system. On the contrary, RBI spent Rs 7,965 crore on printing new currency notes in 2016-17.
Overall currency circulation had come down by 20.2% at the end of March. RBI pumped in 2380 crore notes in circulation between Nov 9-Dec 31.
Total currency in circulation is at Rs 13102 lakh crore and 50.2% of Rs 2000 notes that are in circulation as of end March 2017.
